Marine Mover – Garmin director retires, company appoints two board members

CAYMAN ISLANDS – Marine navigation, communication and information manufacturer Garmin Ltd.’s co-chairman and director Gary L. Burrell has retired, the company reported in a statement yesterday.

Dr. Min H. Kao, who is the company's CEO and who served with Burrell as co-chairman, will continue as chairman and CEO. Burrell and Kao formed the Garmin group of companies in 1989.

Burrell was appointed as chairman emeritus in recognition of his extraordinary contributions to the success of the company.

"Over the past 15 years, I have had the rare and gratifying opportunity to help build a great organization whose products have helped improve the safety of navigation,” Burrell said. “As I approach my 67th birthday, I am honored by my appointment as chairman emeritus and will always cherish the company, its products and my relationships with individual members of our Garmin team around the world."

Two new members were also appointed to Garmin's Board of Directors, increasing the total number of directors to six, of whom four are independent directors. The newly appointed directors will stand for re-election by the shareholders at Garmin's annual meeting in 2005. The new directors are Charles W. Peffer and Clifton A. Pemble. Peffer has also been appointed as a member of the Audit Committee.

Peffer is a former audit partner with KPMG LLP. He currently serves on the Board of the Commerce Funds, a family of eleven mutual funds. Pemble is director of engineering of Garmin International, Inc. In this capacity, he leads engineering and new product development for the Garmin group of companies, according to the company.

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